Pitcairn Co. Invests $202,000 in Kinder Morgan, Inc. (NYSE:KMI)

Pitcairn Co. purchased a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,992 shares of the pipeline company’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its position in shares of Kinder Morgan by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock valued at $46,726,000 after purchasing an additional 144,687 shares during the period. Oxford Financial Group LTD. LLC increased its position in shares of Kinder Morgan by 7.1% during the first quarter. Oxford Financial Group LTD. LLC now owns 16,446 shares of the pipeline company’s stock valued at $302,000 after purchasing an additional 1,087 shares during the period. Lake Street Advisors Group LLC bought a new stake in shares of Kinder Morgan during the first quarter valued at approximately $2,943,000. UniSuper Management Pty Ltd increased its position in shares of Kinder Morgan by 326.0% during the first quarter. UniSuper Management Pty Ltd now owns 77,753 shares of the pipeline company’s stock valued at $1,426,000 after purchasing an additional 59,499 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Kinder Morgan by 23.6% during the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after purchasing an additional 2,125,648 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Trading Up 0.4 %

NYSE KMI opened at $21.15 on Friday. The firm has a market cap of $46.94 billion, a P/E ratio of 19.16, a P/E/G ratio of 3.19 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.38. The stock’s 50-day moving average is $19.93 and its 200-day moving average is $18.58. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $21.86.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Analyst Ratings Changes

KMI has been the topic of several research analyst reports. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group increased their target price on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Truist Financial increased their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday. Scotiabank increased their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Buying and Selling

In related news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dax Sanders sold 50,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the transaction, the vice president now owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The disclosure for this sale can be found here. 12.64% of the stock is owned by corporate insiders.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.